Pro­posed Red Wings arena cost at $733M

Daily Freeman (Kingston, NY) - - SPORTS -

Of­fi­cials say the cost of build­ing the Red Wings’ new arena has jumped by $105 mil­lion to nearly $733 mil­lion. The city said the re­vised es­ti­mate to build the Lit­tle Cae­sars Arena re­flects new spe­cific costs.

Of­fi­cials say the cost of build­ing the Detroit Red Wings’ new arena has jumped by $105 mil­lion to nearly $733 mil­lion.

The city’s Down­town De­vel­op­ment Au­thor­ity said the re­vised es­ti­mate to build the Lit­tle Cae­sars Arena for the NHL team re­flects the spe­cific cost of ma­te­ri­als, per­mits, de­sign re­fine­ments and sub­con­trac­tor agree­ments.

City doc­u­ments in­di­cate other con­struc­tion costs could rise, The Detroit News re­ported.

Of­fi­cials said the re­vi­sion doesn’t in­di­cate mas­sive cost over­runs nor that tax­pay­ers will face ad­di­tional ex­penses.

“The in­creases rep­re­sent en­hance­ments or changes that our pri­vate part­ner, Olympia De­vel­op­ment of Michi­gan, will be pay­ing for — as they are re­quired to do un­der our con­tract,” said Mod­die Tu­ray, ex­ec­u­tive vice pres­i­dent for real es­tate for the Detroit Eco­nomic Growth Cor­po­ra­tion — which ad­min­is­ters the Down­town De­vel­op­ment Au­thor­ity, in a writ­ten state­ment.

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